I have a question on how to rent points please.

[winniedapooh]

So my sale has gone through and the deed is being recorded. I was told to call DVC member services this week to make sure all is well and then I can rent my points that I cannot use yet. I have seen listings etc. I am still unsure how to go about this. I will have a set amount of points that have to be used, they are banked from 2003, by 8/1/05. I know how to list but can anyone offer any advise on how I go about renting from there? Is there a procedure, how I ask for payment, etc.? BTW I do not have paypal as others seem to do so will that be a problem? I have paid with paypal but that is all. Do I call member services or what? I am so lost on this and so not sure what to do. If there is a thread, I have attempted to find something and have not been successful yet but am still trying. Thanks so much in advance.

 

[Caskbill]

Renting is strictly between two private parties. Disney and Member Services do not get involved in any private rentals in any way.

Go to the rent/trade board here on the DIS and post what you have. The agreement you make with someone is strictly up to you, including how payment would be handled. You may want to design a simple contract, and since if someone cancels on you, and you wouldn't be able to use the points, you might want to require full payment in advance with no refunds.

Remember that you will still own all the points and will have to make all arrangements for the person renting from you. You don't have much time, and with summer coming up, availability will start to become a problem. Most likely soime specific types of accommodations may already be booked solid for the summer. Popular accommodations that book fast are things such as GV at OKW, Standard View Studios at BWV, then Studios in General at BWV and BCV, followed by VWL, and lastly OKW. SSR is still fairly new and with new buildings opening monthly there may be more of a choice.

 

[winniedapooh]

Thanks...this is so new to me and I know that I don't have much time either!

 

[JimMIA]

Also, when you go to the Rent/Trade board, read the FAQ and "A Word to the Wise" there. Both contain a lot of helpful information.

 

[newcomer52]

I rented points twice this past year. I was new to it and this is what was asked of me.

1. She first checked see if the resort, dates, room type was available
2. One half of the total amount was due before she made the reservation
3. She sent me the paper confirmation, in my name as soon as she got it. She encouraged me to call member services to check on it, put in any special requests.
4. The balance was due six weeks before I left.
5. All payments were to be sent by money order. I asked that she email me when she received my payments, which she did.

It worked very well. I had wonderful, relatively inexpensive vacations at VWL and BCV.

js

 

[Cruelladeville]

1. If you are new to renting, only rent to those who are renting 2 months or more, ahead of check-in. That way you won't end up with points in holding if someone cancels.
2. Don't check ressies without a confirmation that they will accept your price for your points unless you are being generous. If you advertise, you will get at least 30 people who just want to know what's available, but they don't really want to rent your points, they are just "window shopping".
3. Decide when you want to have all your money. I usually make the ressies, and insist on $100 within a week, or else I will cancel the ressie. I then ask for 1/2 when they get the written confirmation from me, and the rest 45 days before check-in.
4. What about cancellations? You need to decide what to do, just in case. For me, once the points are rented, they belong to the renter to do with as he pleases, but I don't take returns. I will make alternate ressies, though.
5. Remember, you are ALWAYS in charge of the points, so you can't really get burned unless you ignore the above. The renter, on the other hand, is renting on faith, so a contract isn't necessary from your side, but might be for them. Make sure they know your rules at the beginning.
6. Checks are fine, as long as you have 45 days or more. Be sure to let the renter know that a bounced check jepordizes their ressie. I have never had one bounce, but I have had to be extra firm about getting the money on time. Remind your renter with an email when you want the money sent, add firmness if they don't answer with a second reminder.
7. Decide ahead of time about transferring points to someone else's account.
You lose control when you transfer the points, so you may want to have 1/2 the money up-front, with the remainder due once the renter can confirm the transfer. I was uncomfortable with this when I first began renting points.

Good luck!